Costello Family Foundation
Costello Family Foundation is a private foundation, based in Lisle, IL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.1M in total assets. In 2024, it awarded 9 grants totaling $334K. Net investment income was $26K.
Costello Family Foundation at a glance
In short: Costello Family Foundation gave $334K across 9 grants in 2024 (avg $37K), mostly in North Carolina. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $333,925
- -29.0% vs 2023
- Grants made (2024)
- 9
- +28.6% vs 2023
- Average grant
- $37,103
- -44.8% vs 2023
- Median grant
- $4,000
- Total assets
- $2,129,869
- -7.7% vs 2023
- Primary geography
- North Carolina (78% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Costello Family Foundation funds
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2024
The largest 2024 recipient was Abccm Costello House ($250K). Together the top 9 received $334K.
Grant Size Distribution
42 grants across all recorded years
The most common grant size was under $50K: 37 grants of 42 (88%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 9 itemized grants.
Cities
How Costello Family Foundation gives
- Giving grew 320% from 2021 to 2024. Method
- In 2024 it paid out 608% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $33K (2020) to $470K (2023). In 2024 it made 9 grants totaling $334K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Abccm Costello House Asheville, NC | Donation | $250,000 |
| Cross Pointe Ocala Ocala, FL | Donation | $63,000 |
| FCA Kansas City, MO | Donation | $5,000 |
| Episcopal Farmworker Ministry Dunn, NC | Donation | $5,000 |
| Mancave Ministry Asheville, NC | Donation | $4,000 |
| Breakthrough Urban Ministries Chicago, IL | Donation | $3,000 |
| Turning Point Ministries Bonita Springs, FL | Donation | $2,400 |
| I-Bible West Covina, CA | Donation | $1,200 |
| Lamb Lion Ministries McKinney, TX | Donation | $325 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $2,129,869 | $96,186 | $367,479 | $333,925 | 9 | $333,925 | $25,807 | $54,945 |
| 2023 | $2,308,357 | $427,414 | $499,071 | $470,154 | 7 | $467,549 | $19,591 | $50,465 |
| 2022 | $2,332,174 | $330,699 | $355,778 | $312,600 | 8 | $312,600 | $21,332 | $59,050 |
| 2021 | $2,523,292 | $1,742,600 | $82,264 | $79,432 | 9 | $79,432 | $16,330 | $45,789 |
| 2020 | $884,190 | $8,753 | $38,391 | $33,469 | 9 | — | $14,164 | $42,682 |
Under IRS private-foundation payout rules, Costello Family Foundation reported a distributable amount of $55K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Costello Family Foundation is led by Michael J. Costello II, President on every filing since 2020; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Michael J. Costello II
President
On filings since 2020
No compensation reported
Dominic V. Costello
Vice President
On filings since 2020
No compensation reported
Lisa M. Costello
Sec-Treas
Secretary & Treasurer → Sec-Treas, 2023
On filings since 2020
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Costello Family Foundation
How much does Costello Family Foundation give each year?
Costello Family Foundation gave $334K across 9 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $470K across 7 grants.
What is Costello Family Foundation's typical grant size?
Costello Family Foundation's median grant in 2024 was $4,000, and its average grant was $37,103, across 9 grants on its 2024 IRS Form 990-PF.
Where does Costello Family Foundation give grants?
Costello Family Foundation gives mostly in North Carolina: 78% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Florida (20%). The most frequent recipient cities were Asheville, NC (2 grants).
Does Costello Family Foundation give general operating support?
Not in 2024: none of the 9 grants with a stated purpose on Costello Family Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Donation" (9 grants).
Who are Costello Family Foundation's largest grantees?
Costello Family Foundation's largest 2024 grantees include Abccm Costello House ($250,000), Cross Pointe Ocala ($63,000) and FCA ($5,000), according to its 2024 IRS Form 990-PF. Together they received 95% of its itemized 2024 grant dollars.
How large is Costello Family Foundation?
Costello Family Foundation reported $2.1M in total assets on its 2024 IRS Form 990-PF. It paid out $334K in qualifying distributions that year, against a required minimum of $55K (roughly 5% of its investment assets).
What is Costello Family Foundation's EIN?
Costello Family Foundation's EIN (Employer Identification Number) is 26-3258672. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Costello Family Foundation funds
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